The Village at Rayzor Ranch is a multifamily community in the Rayzor Ranch Town Center.
DENTON, TX—As the pandemic continues, firms are becoming more creative with regard to construction strategies. Late last month, three-quarters of respondents to a National Multifamily Housing Council/NMHC construction survey reported implementing new policies to deal with the hurdles due to COVID-19–with many of those firms implementing more than one approach.
Despite issues that have unfolded on many construction sites, one project has wrapped construction on schedule. The Village at Rayzor Ranch is a multifamily community located in the mixed-use development, Rayzor Ranch Town Center. The first of its kind in the Denton area, the 400-acre planned development offers retail, restaurants, office space, a medical facility, a hotel, parks and entertainment venues, according to KWA Construction.
The Village at Rayzor Ranch was far enough along when the pandemic began that it wasn't affected by delays. However, the grand opening ribbon cutting ceremony was postponed, GlobeSt.com learns.
"The Village at Rayzor Ranch is a debut product type for the Denton market. As the community integrates into the larger Rayzor Ranch development, it provides premium luxury and convenience that is unmatched," said Brian Webster, KWA Construction president. "Its design quality and sought-after amenities ensure it has a competitive advantage over neighboring developments in the area."
Developer EPC Real Estate Group selected KWA Construction to build the four-story 237,781-square-foot apartment complex. Located at 3235 Heritage Trail Blvd., The Village at Rayzor Ranch provides tenants with complimentary concierge services, a pool with pavilion and cabanas, pickleball and bocce ball courts, cornhole boards, a massage and sauna spa, a fitness and yoga studio, co-working office studios and a dog park with a grooming station.
"Rayzor Ranch Town Center will bring a plethora of retail, restaurants, parks and entertainment venues that this community has never experienced," Webster tells GlobeSt.com. "The Village at Rayzor Ranch provides much-needed luxury living that is not solely geared toward students, unlike most developments in the Denton area."
Designed by Studio A Architecture and taking inspiration from the Texas Hill Country, the 300-unit community offers studio, one- and two-bedroom units.
"We counted on KWA to deliver on time and on budget so we could meet our projected financial objectives, which we are now achieving," said Steve Coon, co-CEO of EPC Real Estate Group. "Like every EPC project, The Village at Rayzor Ranch is designed to support residents' needs to collaborate, connect, relax, stay fit, be entertained and succeed."
The NMHC construction survey is intended to gauge the magnitude of the disruption caused by the COVID-19 outbreak on multifamily construction. Other findings:
- The percentage of apartment developers reporting construction delays remained around 55% late last month; however, 70% reported experiencing delays in starts
- 77% of respondents experiencing construction delays reported issues with permitting
- 28% noted a lack of materials was impacting construction operations in late April, up slightly from 24% at the end of March
- 44% indicated that COVID-19 outbreak-related labor constraints are affecting construction operations
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
